troubles of belgian french bank dexia. turns out one of the largest banks in europe had to be totally recapitalized with tremendous losses. sound familiar? did it threaten the united states? ooh, norman bates scary. i don't think people remember dexia. it sounds like a vitamin about to be recalled. what else? look at this one. eurozone finance ministers reached a deal to provide collateral to finland in exchange for future agent greece. hmmm, wow. i didn't even recall -- i don't even recall if finland was holding up european aid to greece. they turned out to be one of the best performers since the bottom. and it turned out not to matter much at all. except as, yes, a buying opportunity. sprint, iphone, iphone, that didn't work out great. hedge funds, top dollar. oh, here's a story. look at this. buried in the tail of european wealth. the federal reserve started implementing operation twist. the plan to shift its treasury holdings into longer-term debt. a little guy. at that very moment, the bears would have been overwhelmi

dexia is an interesting person and has an interesting background he has been a genuine priest all along. he has lived with the court. -- the poor. is very telling. >> you were in charge when pope benedict was chosen and co -- and father bergoglio was the runner up. what do we know? >> the resistance that he was not a political person and that he walks the talk, if you like. -- there is a sense that he is not a political person, any he walks the talk if you like. he did not have a coke. he did not have a chauffeur. he very much wanted to be seen to be for the people, so he really did have that aura around him. it has come as a surprise that had he has been elected because he is 76. this suggests the cardinals do not worry about another resignation. this has set a new direction for the church. >> how unusual is it for a catholic cardinal to be wandering around. this is a very high organization. is this a mark of somebody in a different role at? >> people call him jorge. that is very telling. there are a lot of cardinals like fat. we tend to think of them as those concerned with hierarchy

>> in april until october 3rd the main reason was dexia. the problems with dexia. i googled dexia. now it's a supplement being recalled by pnc. >> and then you have a 50-day suspension and you didn't have the twist of the nasdaq and there's a lot oflyway that that doesn't happen and then the sell the news and we're kind of unchanged. >> right. >> it will be interesting to see, and if someone were to ask ben bernanke about the situation in europe and the situation in cyprus and whether or not that is exacerbating the overall situation in europe and how he addresses the fact, that if the situation is worsening, will he lore the threshold for unemployment? will he open the door to longer qe? >> he's very good at chatting now. remember when he crushed the senators? that was amazing and i thought it was like a princeton dinner club. no, man, he was mama jamaa. i do believe that in the end he will split it. heel be wi he will be wise and we'll stop thinking about him for a couple of days. >> and we'll think about putin. >> is putin long? >> those guys play it. >> he's always long. >> he'